Amid negative foreign institutional investors (FII), neutral global market, domestic institutional investors (DIIs), future and option (F&O) and cautious sentiments, the short-term trend of the Indian market is set to be negative on Friday, October 26, 2018.

IT stocks were the top gainers of the day with Wipro and HCL Tech leading the pack – up by 3.03% and 2.27% respectively. Image source: Zee Business

After witnessing swings in both directions, Indian markets finally closed in the red on October 25, 2018. Nifty 50 closed down by 99.85 points (0.98%) at 10,124.90 while Nifty Bank closed at 24,817.45 down by 246.75 points (-0.98%). S&P BSE Sensex went down by 343.87 points (1.01%) at 33,690.09.

IT stocks were the top gainers of the day with Wipro and HCL Tech leading the pack – up by 3.03% and 2.27% respectively.

Amid negative foreign institutional investors (FII), neutral global market, domestic institutional investors (DIIs), future and option (F&O) and cautious sentiments, the short-term trend of the Indian market is set to be negative on Friday, October 26, 2018.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for October 26:
Small and bigger trading range on Nifty lies between 10,075-10,225 and 24,600-25,075 respectively while the extreme range stands at 9,950-10,300.

In the case of the BankNifty, the small and bigger trading range resides at 24,700-24,975 and 24,600-25,075 respectively. The extreme trading range stands at the mark of 24,500-25,250.

Traders are suggested to go for a short cover if the two indices, Nifty and BankNifty closes above the mark of 10,250 and 25,100 respectively.

Buy and Sell Strategy on Nifty

Buy Nifty in 10000-10075 range with a stop loss of 9,950 and target of 10,125-10,200-10,225.

Sell Nifty in 10200-10225 range with a stop loss of 10,300 and target of 10,150-10,125.

Buy and Sell Strategy on BankNifty

Buy BankNifty near 24700 with a stop loss of 24,500 and target of 24,975-25,075.

Sell BankNifty in 25,075-25,200 range with a stop loss of 25,300 and target of 25,000-24,925-24,800.

Sell BankNifty with a stop loss of 25,250 and target of 24900-24850-24700.

Already In F&O ban: Adani Power

Out of Ban: Adani Enterprises, DHFL

Put-call ratio (PCR) stands at 1.49 and the volatility index (VIX) is 18.96.

Sectors:

Negative: Tyre, NBFC

Result Analysis:

Bharti Airtel: Performance of India business is weak. The stock may fall further by 3-4%.